Sky Harbour Group Corporation · NYSE:SKYH
Sky Harbour — Investor Presentation (2025)
19 slides from Sky Harbour's investor presentation, 2025
Slide 1: Investor Presentation Fall 2025
SKYH SKYH NYSE NYSE Investor InvestorPresentation Presentation Summer 2025 Fall 2025 ©2025 Sky Harbour Confidential and Proprietary
Slide 2: Disclaimer: Important Information for Investors
Disclaimer Important Information for Investors This investor presentation (this “Presentation”) (references to which shall be deemed to include any information which has been or may be supplied in writing or orally in connection herewith or in connection with any further inquiries) has been prepared
Slide 3: Disclaimer: Financial Information; Non-GAAP Financial Measures
Disclaimer Financial Information; Non-GAAP Financial Measures Certain financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X or Regulation G. Accordingly, such information and data may not be included in, may be adjusted in, or may be presen
Slide 4: Disclaimer: Forward-Looking Statements
Disclaimer These forward-looking statements are subject to a number of risks and uncertainties, including (i) changes in global, regional and local business, market, financial, political and legal conditions; (ii) failure to realize the anticipated benefits of the Offering; (iii) risks relating to t
Slide 5: Disclaimer: No Representations and Warranties
Disclaimer No Representations and Warranties No representation, warranty or undertaking, express or implied, is made or will be given by Sky Harbour and its affiliates and Representatives as to the fairness, accuracy, completeness or reliability of this Presentation and the information and or statem
Slide 6: Presenters
Presenters Tal Keinan Francisco Gonzalez Tim Herr CEO CFO Treasurer / SVP Finance • Sky Harbour Founder • Oversees Sky Harbour’s financial, capital markets, • Joined Sky Harbour at company inception, • Clarity Capital: board of directors, global asset- treasury, tax and accounting functions playing
Slide 7: A Specialty Real Estate Platform
A Specialty Real Estate Platform Robust Project Returns / Scalability / Deep Competitive Moats / Recession Resilience / Upside Optionality ©2025 Sky Harbour Confidential and Proprietary
Slide 8: Sky Harbour Snapshot
Sky Harbour Snapshot Applying a new business model to a longstanding opportunity • Secure land at key US airfields Business • Develop campuses of private hangars • Lease hangars and manage campuses • Mid-teens stabilized yield on cost = >30% return on equity Goals • 50+ airfields • Remain largest ho
Slide 9: Section 1: Market Opportunity
Section 1: Market Opportunity ©2025 Sky Harbour Confidential and Proprietary
Slide 10: Business Aviation Suffers from Chronic Hangar Deficit
Business Aviation Suffers from Cumulative US Business Aircraft Fleet Square Footage Chronic Hangar Deficit 100,000,000 62% Increase 90,000,000 80,000,000 Consistent Demand Growth over pre-COVID Decade 70,000,000 • 36,800,000 square feet net growth in US business aviation (BizAv) fleet 60,000,000 • 1
Slide 11: Hangar Supply Constrained
Hangar Supply Constrained Existing hangar infrastructure already insufficient • Hangar occupancy now significantly >100% at major BizAv hubs • Demand growing much faster than supply • Community hangar format suboptimal for high-end tenants Airport land is a scarce and dwindling resource • Little dev
Slide 12: Section 2: Company Overview
Section 2: Company Overview ©2025 Sky Harbour Confidential and Proprietary
Slide 13: Site Acquisition
Site Acquisition Proprietary Site Acquisition Methodology; Highly-trained Veteran-led Team Acquisition Strategies Targeting Criteria Target Map 17 Unsolicited Bid to • Ex: Houston (SGR), Phoenix (DVT) Hudson Valley (POU), 1. Metro center’s existing Airport Sponsor Chicago (PWK), Orlando (ORL), Dulle
Slide 14: Sky Harbour's Unique & Superior Business Model
Sky Harbour’s Unique & Superior Business Model Home Basing Operators (HBO’s) Fixed-Based Operators (FBO’s) Operators Business Model Medium to long-term leases to tenants Transient traffic and fuel sales Differentiation Premium real estate at constrained airports, Compete primarily on service quality
Slide 15: Illustrative Scaling of Business and Unit Economics
Illustrative Scaling of Business and Unit Economics Assumptions • Average airfield development cost projected to grow over time from current levels at CPI • NOI yield projected to increase for fields 7-20 (more desirable airfields), then decreases for fields 21-50 (less attractive fields) • PABs lev
Slide 16: Sky Harbour Group Corp Financial Results
Sky Harbour Group Corp Financial Results Construction Accelerating, Increasing Revenues COST OF CONSTRUCTION AND CONSTRUCTED ASSETS QUARTERLY REVENUES OPERATING EXPENSES* (In millions) (In millions) (In millions) 300 7 7 6 6 250 5 5 200 4 4 150 3 3 100 2 2 50 1 1 0 0 0 Q4'22 Q4'23 Q4'24 Q2'22 Q3'22
Slide 17: Portfolio Revenue Potential
Portfolio Revenue Potential Hangar Site Plan Square Footage under Ground Lease x SHER $200mm $180mm $160mm $140mm $120mm $100mm $80mm $60mm $40mm $20mm $0mm Mar-24 2025 Jun-24 Jul-24 May-24 Q1 25 Oct-23 Jan-24 Sep-23 Nov-23 Apr-24 Oct-24 Dec-23 Feb-24 Sep-24 Nov-24 Dec-24 Aug-24 Pre-2023 BFI BDL SJC
Slide 18: $200 Million JPMorgan Drawdown Facility
$200 MILLION JPMORGAN DRAWDOWN FACILITY Projected Monthly Construction Spend and Facility Draws Benefits Funding Construction of BDL, SLC, POU1, TTN, and IAD1 ▪ Tax-Exempt ▪ Delayed Equity Funding $40,000,000 ▪ Draw Down/Issuance as Needed ▪ Optimized Timing of General ▪ Floating Interest Rate Contr
Slide 19: Contact Us
Robust Project Returns / Scalability / Deep Competitive Moats / Recession Resilience / Upside Optionality Contact Us: investors@skyharbour.group ©2025 Sky Harbour Confidential and Proprietary